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Net investment income divided by NAV plus the time weighted (daily) contributions for the measurement period (TwdC) minus the time weighted (daily) redemptions for the measurement period (TwdR) and minus the time weighted (daily) distributions for the measurement period (TwdD). See Performance Measurement Module of the INREV Guidelines.
Source: INREV | Date: 23 March 2020 | ID: D0161 | Version: 7
The absolute unleveraged return of the property portfolio over a stated period before any vehicle-level costs are deducted.
The absolute return of the vehicle over a stated period before any vehicle-level fees and expenses are deducted.
The amount an investor earns over the stated period after all vehicle-level fees and expenses including taxes and servicing of debt are deducted.
Time-weighted net and unlevered return.
This uses as a numerator the aggregate of the cash flows used in the calculation of the gross IRR of a vehicle with respect to realized investments and as a denominator the total equity invested in respect of those same realized investments.